Salesforce, Inc. (NYSE:CRM) COO Brian Millham Sells 6,161 Shares of Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 6,161 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Brian Millham also recently made the following trade(s):

• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00.
• On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The shares were sold at an average price of $266.22, for a total transaction of $1,526,771.70.
• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00.
• On Wednesday, July 24th, Brian Millham sold 969 shares of Salesforce stock. The stock was sold at an average price of $253.63, for a total transaction of $245,767.47.

Salesforce Stock Performance

Shares of CRM stock opened at $288.24 on Wednesday. The stock has a market cap of $279.30 billion, a P/E ratio of 51.84, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a fifty day moving average price of $268.12 and a two-hundred day moving average price of $263.09. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 earnings per share. As a group, equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Wells Fargo & Company increased their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. DA Davidson increased their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wedbush increased their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Wednesday, August 28th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $311.66.

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Beese Fulmer Investment Management Inc. boosted its holdings in shares of Salesforce by 0.9% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 64,245 shares of the CRM provider’s stock worth $17,585,000 after buying an additional 600 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Salesforce by 46.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 15,708 shares of the CRM provider’s stock worth $4,299,000 after buying an additional 4,967 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Salesforce during the 3rd quarter worth about $561,000. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Salesforce by 17.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,332 shares of the CRM provider’s stock worth $365,000 after buying an additional 198 shares during the period. Finally, Great Lakes Retirement Inc. boosted its holdings in shares of Salesforce by 3.4% during the 3rd quarter. Great Lakes Retirement Inc. now owns 9,526 shares of the CRM provider’s stock worth $2,607,000 after buying an additional 312 shares during the period. Institutional investors own 80.43% of the company’s stock.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.